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on social security he denied any effect on the deficit at all. durbin said earlier last week social security hasn't added a dime to the dif is it. in fact, in 2012, it adds $160 billion of debt. there is more money in trust fund of social security to take care of it for 20 more years 25, more years. that means that pieces of paper in the trust fund with the treasury says we will pay you. but it doesn't have the money. it's spent the surplus in the past. that is simply a promise, from a treasury which is bankrupt. they won't touch social security. why? political implications. republicans are bad guys and they are the good guys. we don't want to balance it on back of seniors as if you are going to reform this and killing the budget. everybody agrees that is the one area where the treasury is hemorrhaging. impacting the seniors to get out of the drug company. that is absurd. the only way to attack this is to slow down the growth of healthcare. and the one area that you could really do that tort reform where a quarter of all spending in medicine is s
on social security he denied any effect on the deficit at all. durbin said earlier last week social security hasn't added a dime to the dif is it. in fact, in 2012, it adds $160 billion of debt. there is more money in trust fund of social security to take care of it for 20 more years 25, more years. that means that pieces of paper in the trust fund with the treasury says we will pay you. but it doesn't have the money. it's spent the surplus in the past. that is simply a promise, from a treasury...
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last i looked at the trade deficit, we were, again, lagging and uke sking popped water. there's arising deficit stripping our gdp. >>nd right now europe is in a relative deep recession. we're still above water. lou: you jumped all over the punch line because you talk about things not making sense. folks, this is not making sense. i'm delighted because people have wealth left in the equities market, the bond market. w long will that be the case if we go over the cliff? >> won't be the case for long if we have a recession followed by a typical bear market. lou: how long to get to recession -- >> we can get there pretty quick. in fact, some of the down downdrafts are starting to form. we saw those in the q3 gdp numbers were sinking into @%ntraction. lou: 2.7 -- >> employment reports gnar november and december, not surprised if gains in private sector payrolls are well over 100,000 new jobs. lou: that would not be good. baseline at least, i think, for passable is 125. what's your judgment? >> about the same, okay, that's a c-minus grade, get a "c" if we hit 150. lou: might s
last i looked at the trade deficit, we were, again, lagging and uke sking popped water. there's arising deficit stripping our gdp. >>nd right now europe is in a relative deep recession. we're still above water. lou: you jumped all over the punch line because you talk about things not making sense. folks, this is not making sense. i'm delighted because people have wealth left in the equities market, the bond market. w long will that be the case if we go over the cliff? >> won't be...
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d that social security has nothing to do with the deficit. 2037. solvent and until medicare is solvent until 2024. u think where we're at, i know as i listenhen the question would the republicans get anything, i don'tven wa to use the word conceding coming together on behalf of the erican people where 62% believe on november 6th when the race was over the vote was really on whether or not shoulde a fair tax burden on those --. melissa: i'll give that to yo les go ahead and raise taxes. say we do that. that doesn't get us close to solving the problem. mean we still have $16.3 trillion in debt. we are still running $4 billion a day beyond what we're making. we this huge problem this country. if it was a house you wuld throw uppyour arms in distress say, my god, we can never y all theseills. that is sort of the point. >> i'm not in distress on that. first of all with the tax rrlief for 98% of the americans, wel turn a reasoned amount of a trillion upwards back into the treasury. that is the first st. secondarily, a lot of economists will make it v cle
d that social security has nothing to do with the deficit. 2037. solvent and until medicare is solvent until 2024. u think where we're at, i know as i listenhen the question would the republicans get anything, i don'tven wa to use the word conceding coming together on behalf of the erican people where 62% believe on november 6th when the race was over the vote was really on whether or not shoulde a fair tax burden on those --. melissa: i'll give that to yo les go ahead and raise taxes. say we...
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Nov 29, 2012
11/12
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for those of us that realize barack obama owns the economy, the deficit, owns everything, and as things get worse you can blame him for his failed policies. but if they're going to go back, in this case tom hartman is going to blame ronald reagan -- well, there's never any hope of not blaming george bush. listen to this. >> black friday in reality is a symptom of the plight that 30 years of reaganomics brought to america. we've been steadily, the last 30 years, watching the destruction of organized labor, labor unions. we have black friday today because the wealthy elite have strangled their workers for 32 years. ever since ronald reagan's election. >> sean: forget those eight years of clinton and four years of obama, it's reagan's fault. it's reagan's fault that on black friday people are killing themselves at victoria's secret. >> they're going after capitalism. the kids are being taught this stuff in school. it really is incredible. the crisis of capitalism. that's really what they're after. that's a core issue. >> sean: yeah, but there's a common theme, that all the troubles in the
for those of us that realize barack obama owns the economy, the deficit, owns everything, and as things get worse you can blame him for his failed policies. but if they're going to go back, in this case tom hartman is going to blame ronald reagan -- well, there's never any hope of not blaming george bush. listen to this. >> black friday in reality is a symptom of the plight that 30 years of reaganomics brought to america. we've been steadily, the last 30 years, watching the destruction of...
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Nov 30, 2012
11/12
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it will have no effect on deficit. no effect on rescuing us. and i think republicans ought not play that game. it doesn't help the income. >> to answer your question, the middle class tax cuts are permanent. and the response to charles would be that the obama white house believes it will help the economy. >> they're completely wrong. that is the problem. >> bret: next up, the friday lightning round. [ "odd couple" theme plays ] humans -- even when we cross our t's and dot our i's, we still run into problems. namely, other humans. which is why, at liberty mutual insurance, auto policies come with new car replacement and accident forgiveness if you qualify. see what else mes standard at libertymutual.com. liberty mutual insurance. responsibility. what's your policy? >> bret: every week, viewers vote for your choice online in the lightning round poll. and this week, cabinet reshuffle won with 36% of the vote. back with the panel. okay, bill. susan rice hasn't been dominated for everything but we think she might be nominated for secretary of state.
it will have no effect on deficit. no effect on rescuing us. and i think republicans ought not play that game. it doesn't help the income. >> to answer your question, the middle class tax cuts are permanent. and the response to charles would be that the obama white house believes it will help the economy. >> they're completely wrong. that is the problem. >> bret: next up, the friday lightning round. [ "odd couple" theme plays ] humans -- even when we cross our t's...
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Dec 7, 2012
12/12
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the problem is the deficit. i know i've gotten a lot of hate mail from both the right and the left -- >> no, you're being honest. >> the fact of the matter is, we have to balance the budget. we've been in an economic recovery for three years. we're not where we ought to be. the longer you put this big deficit on, the harder it's going to be later on. >> katie, i'm sorry but lost you for a minute. i'm worried, katie, because the gop is in an unenviable political position after the election, because they're not talking about enough spending and entitlement cuts, what you hear is defending tax cuts for the rich. in other words, the gop is becoming the party of rich people and that's not where they ought to be. >> the problem is marketing. and republicans have had a big problem with marketing since the ronald reagan days. they need to get on the ground and talk about how these tax cuts affecting the rich will affect the middle class. democrats have been getting away with saying that the rich are the ones who need to
the problem is the deficit. i know i've gotten a lot of hate mail from both the right and the left -- >> no, you're being honest. >> the fact of the matter is, we have to balance the budget. we've been in an economic recovery for three years. we're not where we ought to be. the longer you put this big deficit on, the harder it's going to be later on. >> katie, i'm sorry but lost you for a minute. i'm worried, katie, because the gop is in an unenviable political position after...
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Nov 29, 2012
11/12
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this will not make a dent in the deficit. here to disagree with me is christian dorsey from the economic policy institute. christian, thank you so much for coming back to the show. you are always a spirited debate partner. tell me why you like this. >> i'll tell you, melissa, to me this is not so much about the revenue that it would raise but about the message and principle it stand for, that we can't in this country have a situation where people are making millions of dollars effectively paying lower tax rates than america's middle class families. the principle of this, of this rule is actually what's most important. the revenue that it raises, it is important because it is not chump change but it is not in of itself going to change our deficit conversation but the principle is one that is extremely important. liz: but you're talking about wealthier people. well thinker people pay a higher average tax rate. everybody pulls out the stat that they want to look at. if you look at average tax rate of the top 1%, it is 23%, almos
this will not make a dent in the deficit. here to disagree with me is christian dorsey from the economic policy institute. christian, thank you so much for coming back to the show. you are always a spirited debate partner. tell me why you like this. >> i'll tell you, melissa, to me this is not so much about the revenue that it would raise but about the message and principle it stand for, that we can't in this country have a situation where people are making millions of dollars effectively...
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volume since the dot com bubble burst low business investment low were record budget deficits from the government and high unemployment do we actually need a bubble not a case i would make but a very smart gentlemen is here to tell us why they can sometimes be good joining me from our new york studio is dr william janeway he's senior advisor for warburg pincus technology and author of the book doing capitalism in the innovation economy markets speculation and this dave thank you so much for being on the show very good to be here we're going to have you because you have said and i would definitely agree that bubbles have received bad press whether we're talking about the two live bubble in the sixteen hundreds or whether we're talking about the real estate bubble ahead of two thousand and eight but in some instances you say bubbles can be good why can bubbles be good and what kind of a bubble would we need or might we need now. well the first thing as you've said is that bubbles are boringly common where ever there is a active trading liquid market in an asset from tulip bulbs to real e
volume since the dot com bubble burst low business investment low were record budget deficits from the government and high unemployment do we actually need a bubble not a case i would make but a very smart gentlemen is here to tell us why they can sometimes be good joining me from our new york studio is dr william janeway he's senior advisor for warburg pincus technology and author of the book doing capitalism in the innovation economy markets speculation and this dave thank you so much for...
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Dec 3, 2012
12/12
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rajoy has warned it will achieve the deficit target agreed with the eu. he said he couldn't guarantee there would nobody further spending cuts and he would not have any doubts about using the ecb's omt program, though of course with yields where they are at the moment, they don't have to. in fact we spoke to patrick garvey a little bit earlier today that suggests that the risk-on theme for debt will continuum at least the end of january. remember, spain will have another batch of pre-funding for 2013 later this week on thursday. otherwise that's it for today's edition. coming up, the first "squawk box" of the week and countdown to the open of markets state side. whatever happens, we hope you have a profitable day. [ male announcer ] this december, remember -- what starts with adding a friend... ♪ ♪ ...could end with adding a close friend. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. tis the pursuit of perfection. >>> good morning. today's top stories. fiscal cliff hanger. there's now less than a m
rajoy has warned it will achieve the deficit target agreed with the eu. he said he couldn't guarantee there would nobody further spending cuts and he would not have any doubts about using the ecb's omt program, though of course with yields where they are at the moment, they don't have to. in fact we spoke to patrick garvey a little bit earlier today that suggests that the risk-on theme for debt will continuum at least the end of january. remember, spain will have another batch of pre-funding...
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Nov 29, 2012
11/12
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oh my goodness deficit deficit deficit, fix the tax code, and what are they proposing lowering their own taxes. it's a sham and they ought to be rolled out of town if people understand what they were talking about. >> if people are worried about how they're going to take care of the homeless, how schools will be able to accommodate 30 kids in the class rom how people will be able to make ends meet when unemployment disappears. they can't be here. they can't afford it. they come here and write it off in their taxes $20 million a year ceos from these corporations, and continue to spread the hysteria and--and if their plan goes through the austerity plan, they and their company and their bonuses are actually the only thing that is going to improve in this economy. >> eliot: as they have over the past couple of years. income disparity is worse and worse and incomes are going up. lloyd blankfein telling people that they people should not expect to work for 25 years and then retire for 30. i don't think he understands what social security is all about. >>> the hispanic caucus said no today
oh my goodness deficit deficit deficit, fix the tax code, and what are they proposing lowering their own taxes. it's a sham and they ought to be rolled out of town if people understand what they were talking about. >> if people are worried about how they're going to take care of the homeless, how schools will be able to accommodate 30 kids in the class rom how people will be able to make ends meet when unemployment disappears. they can't be here. they can't afford it. they come here and...
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Dec 6, 2012
12/12
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it does not solve the deficit. it is not a serious deficit proposal. the credit rating agencies are looking for a plan that lowers the gdp to debt ratio. i do not think there is a magic number. social security, medicare, to find a sustainable path for word on them. do you think the president's plan adequately addresses the sustainability of medicare and social security? >> >> i think he needs to go further. i do not think it is enough. i believe the proposals are good ones. i think they are hard proposals to make because they're substantive. to achieve fiscal sustainability in the context of $3 trillion in 10-year deficit reduction, i think we need to do more. >> looking at the republican plan and the present proposal, do you see any common ground? -- and the president's proposal, do you see any common ground? >> the common ground is that we're looking at the same proposals. cbo has scored a number of different approaches. i also think there is no general agreement in the context of the current discussion, we will not make any major structural changes
it does not solve the deficit. it is not a serious deficit proposal. the credit rating agencies are looking for a plan that lowers the gdp to debt ratio. i do not think there is a magic number. social security, medicare, to find a sustainable path for word on them. do you think the president's plan adequately addresses the sustainability of medicare and social security? >> >> i think he needs to go further. i do not think it is enough. i believe the proposals are good ones. i think...
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. >> this is not about getting a handle on deficits or debt for him. it's about spending even more than he has. >> white house aids reject the republican claims that holding the debt limit over the president's head is the only mechanism to get him to trim spending. >> you're just going to keep at the debt limit goes higher, you spend more money. you and congress, both. >> that's false. president signed into law a trillion dollars in discretionary cuts. the president has a specific proposal to achieve $600 billion in savings from entitlement programs like health care entitlement programs. >> jay compared republican pressure on the debt ceiling to a hostage taking. >> a profoundly bad idea that i think could not be more frightening for american businesses, and american workers. >> treasury secretary tim geithner may have frightened people yesterday saying the white house is prepared to go off the fiscal cliff unless republicans bend on taxes. a comment by former democratic potential candidate howard deen frighted republicans that the debate is not just a
. >> this is not about getting a handle on deficits or debt for him. it's about spending even more than he has. >> white house aids reject the republican claims that holding the debt limit over the president's head is the only mechanism to get him to trim spending. >> you're just going to keep at the debt limit goes higher, you spend more money. you and congress, both. >> that's false. president signed into law a trillion dollars in discretionary cuts. the president has...
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that's simpson of simpson-bowles. >> that was the commission working to reduce the deficit. there's your commission chairman. whatever gets folks' attention, right? the work not in vain. there's your chairman. looking good, allen. break it down. looks good in everything. >>> you know those dog owners who swear that fido really genuinely is pretty smart. >> let's not offend all of the dog owners. they are smart. >> look at this. some proof here. experts are teaching dogs how to drive. they say it took only eight weeks for the canines to master the basics. >> it's part of an animal welfare campaign in new zealand to show you intelligent dogs are. the drivers are all rescue dogs that may have been doomed otherwise. and i think they might be doomed behind the wheel of a car. >> you want to put your life in fido's hands, you go right ahead, folks. >>> for some of you, your local news is coming up next. >>> for some of you, your local news is coming up next. don't go far. i want answers! ♪ oh. right. kay. [ female announcer ] it's true, every kiss does begin with kay. introducin
that's simpson of simpson-bowles. >> that was the commission working to reduce the deficit. there's your commission chairman. whatever gets folks' attention, right? the work not in vain. there's your chairman. looking good, allen. break it down. looks good in everything. >>> you know those dog owners who swear that fido really genuinely is pretty smart. >> let's not offend all of the dog owners. they are smart. >> look at this. some proof here. experts are teaching...
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Dec 5, 2012
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that's half of last year's federal deficit. what's 800 billion in savings over a decade? that's irrelevant. absolutely. whatever time he spent negotiating that was a complete waste of time. >> here's my criticism. they seem to be negotiating against themselves. they give a proposal, obama gives a non-proposal, and they respond with another proposal. here's what i don't understand. seems the answer is simple if they're worried about the pr side or the political side. pass the bill. extend all the bush tax cuts and then the president and the senate or the president decides if they want to raise taxes on the middle class or not. put it on them. put the onus on them. >> they will have voted not to do that. obama has made a bet that the republican party is so inept at the politics of this that they will get stuck with it. he can hang the debt alba tros of the biggest tax increase in american history around their next. >> he wants it all. howard dean is the only guy i see that has said this is the best case scenario. they get defense sequestration, they get to raise taxes on ev
that's half of last year's federal deficit. what's 800 billion in savings over a decade? that's irrelevant. absolutely. whatever time he spent negotiating that was a complete waste of time. >> here's my criticism. they seem to be negotiating against themselves. they give a proposal, obama gives a non-proposal, and they respond with another proposal. here's what i don't understand. seems the answer is simple if they're worried about the pr side or the political side. pass the bill. extend...
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Dec 1, 2012
12/12
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which hasn't been better actually the trade deficit is actually significantly down but not all. we have had some that have become more competitive that is the front on which we need to work. the political debate hasn't kept up with the reality it's no longer the quarter of that anymore. it's the broadest of countries some that need to be worked on and the next president isn't just china bashing but what do we need to do have a world that is everybody trying to run a trade surplus which the government believes it is possible. [laughter] >> then there is this issue of trade and income inequality. and there's a similar level that presumably had relatively little to do with the distribution. if you make -- canada sends assembled cars back to the united states that is and when to be making a big difference to the deficiency. now we do a lot in the countries that are substantially lower income and are selling less labor-intensive products that are increasing the inequality and come through the skull the differentials and it's not simply put part of this revolution ourself. the trade i
which hasn't been better actually the trade deficit is actually significantly down but not all. we have had some that have become more competitive that is the front on which we need to work. the political debate hasn't kept up with the reality it's no longer the quarter of that anymore. it's the broadest of countries some that need to be worked on and the next president isn't just china bashing but what do we need to do have a world that is everybody trying to run a trade surplus which the...
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Dec 1, 2012
12/12
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it would make a difference in the deficits. and then we'll talk revenue. >> larry we're not suggesting dropping out, either. >> neil pattell thank you very much. senator kay bailey hutchson appreciate it. >>> next up lipitor and the fallout. the people who take the popular drug need to know. [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's another reason more investors are saying... [ all ] i'm with scottrade. it's another reason more investors are saying... those surprising little still make you take notice. there are a million reasons why. but your erectile dysfunction that could be a question of blood flow. cialis for daily use helps you be ready anytime the moment's right. you can be
it would make a difference in the deficits. and then we'll talk revenue. >> larry we're not suggesting dropping out, either. >> neil pattell thank you very much. senator kay bailey hutchson appreciate it. >>> next up lipitor and the fallout. the people who take the popular drug need to know. [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500...
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Dec 7, 2012
12/12
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social security didn't contribute to the deficits and debt. i don't think there will be any appetite whatsoever for touching social security. but those points i think democrats are quite unified on. the area where i think there is room for negotiation and compromise is, the rates are going to go up. i think we all recognize that. will the rates go up completely? are there other ways where they can come up somewhat short of that but make up the revenues by reducing deductions from higher income families? >> so the deal that we're talking about is halfway between the current rate and the former rate? >> well, i wouldn't say halfway. but i would say, as long as you can get to the revenues, if you can increase the rates and reduce the deductions for upper income households, you can get to the same dollar number and i think there's a willingness to entertain that. it does tend to complicate the tax code. the simplest way is simply to raise the tax rates up to the clinton levels and, you know, we do have a strong interest in simplifying the tax code
social security didn't contribute to the deficits and debt. i don't think there will be any appetite whatsoever for touching social security. but those points i think democrats are quite unified on. the area where i think there is room for negotiation and compromise is, the rates are going to go up. i think we all recognize that. will the rates go up completely? are there other ways where they can come up somewhat short of that but make up the revenues by reducing deductions from higher income...
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Dec 7, 2012
12/12
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captioning sponsored by macneil/lehrer productions >> brown: with no compromise in sight for a deficit deal, president obama pressed his case at the home of a middle class family in virginia today, part of his pitch to extend tax cuts for all but the very wealthy. good evening, i'm jeffrey brown. >> woodruff: and i'm judy woodruff. on the "newshour" tonight, we update the state of the negotiations and examine the push to make changes to social security and medicare. >> brown: then, margaret warner looks at the political strife in egypt, after deadly clashes in the streets and resignations by top officials. >> woodruff: we have a battleground dispatch from a coastal city facing rising sea levels and the next big storm. >> if sandy were to come close r directly into norfolk i think we'd all be in big trouble. >> brown: we assess the latest diplomatic moves to end syria's war, as secretary of state hillary clinton meets with russia's foreign minister. >> woodruff: and ray suarez has the story of a program that aims to put students at low-achieving schools on a path to high school graduati
captioning sponsored by macneil/lehrer productions >> brown: with no compromise in sight for a deficit deal, president obama pressed his case at the home of a middle class family in virginia today, part of his pitch to extend tax cuts for all but the very wealthy. good evening, i'm jeffrey brown. >> woodruff: and i'm judy woodruff. on the "newshour" tonight, we update the state of the negotiations and examine the push to make changes to social security and medicare....
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well, we often hear about, of course, $16 trillion national debt, a trillion dollar deficit first, the actual liabilities of the federal government, including social security, medicare, federal employees future retirement benefits exceeding $866trillion. by the way, that is five and a half times the size of our economy. joining us, former congressman bill archer, served as chairman of the powerful ways and means committee. he is a senior policy adviser at price waterhouse coopers, and it is great to see you, mr. chairman, once again. you look terrific. i enjoyed your op-ed along with chris cox. pointing out that essentially what a relief it was to find out of all have to worry about $16 trillion. i have to worry about $86 trillion. >> it is much bigger than what we were looking at. the so-called fiscal cliff is going to be just a slope and ultimately a relatively small indentation because in the long term when we began to look at the liabilities that we have committed to primarily medicare, but also social security and other ffderal retirement, it is massive. and this strange thing abo
well, we often hear about, of course, $16 trillion national debt, a trillion dollar deficit first, the actual liabilities of the federal government, including social security, medicare, federal employees future retirement benefits exceeding $866trillion. by the way, that is five and a half times the size of our economy. joining us, former congressman bill archer, served as chairman of the powerful ways and means committee. he is a senior policy adviser at price waterhouse coopers, and it is...
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Dec 7, 2012
12/12
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KQED
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now answer your question, social security has not added a penny to the federal debt, to the deficits every year. it has a surplus. it has a surplus of $2.7 trillion. so why are we in such a rush to change a program that does not have -- is not bankrupt, has a surplus, has 22 years of solvency before it does have a serious problem and has not contributed to the federal debt? >> and we can talk about these programs separately. we know that social security is considered to be in sounder shape than is medicare which is viewed as potentially running out of funds in the next few years, whereas social security -- but let's take them one at a time. when it comes to social security you have the simpson-bowles deficit reduction commission saying that if you don't deal with these programs you just can't be serious about getting your arms around this country's huge debt and deficit crisis. >> well, i go back to where i started. this program didn't add to the debt, hasn't contributed to the debt. we're not saying -- we're not a group that has our heads in the sand and is committed to never doing
now answer your question, social security has not added a penny to the federal debt, to the deficits every year. it has a surplus. it has a surplus of $2.7 trillion. so why are we in such a rush to change a program that does not have -- is not bankrupt, has a surplus, has 22 years of solvency before it does have a serious problem and has not contributed to the federal debt? >> and we can talk about these programs separately. we know that social security is considered to be in sounder...
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Dec 6, 2012
12/12
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they were elected as a check and balance against president obama's reckless deficits and his reckless debt. they were elected to stop the explosive growth of government. the republicans were elected and sent to washington to fight for limited government, balanced budgets, and of course, greater liberty for all the american people. at this moment it seems like they are only offering a democratic light version for america. maybe they need to learn a thing or two from president obama. maybe they need to show a willingness to go over the so-called fiscal cliff. now, if the president really wants to take the country there, maybe they need to let him go there. here's the bottom line. what are we hearing from the white house? we're hearing the president will not negotiate unless taxes are raised on job creators, and we're hearing that the president now wants to seize control of the debt ceiling from congress. well, that means rather than needing the approval of the house was the senate to raise the nation's spending limit, president barack obama wants to do this all by his lonesome, a blank
they were elected as a check and balance against president obama's reckless deficits and his reckless debt. they were elected to stop the explosive growth of government. the republicans were elected and sent to washington to fight for limited government, balanced budgets, and of course, greater liberty for all the american people. at this moment it seems like they are only offering a democratic light version for america. maybe they need to learn a thing or two from president obama. maybe they...
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Dec 3, 2012
12/12
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his own deficit reduction commission. he knows what our proposals are, he knows what we are throwing do. what we don't know, chris, is what is the president willing to do? >> well, let me ask you specifically about that. is it true, because it's been said but we've never seen a piece of paper; it true that the president offered to raise the eligibility age for medicare and to slow cost of living adjustments for social security what you were in your debt talks in august ofs2011. >> it was on the table. did the president agree to it? it may have been close to an agreement to it. if he agreed to it we might not have some problem today. >> is that on the table now. of course, it's on the table. >> no, is it on the table from their point of view. >> well, there are a lot of items on the table. the president knows what they are. the question is what are they willing to do. >> you are starting it have some political problems because you are starting to have some split necessary your ranks. i don't have to tell you one of the top
his own deficit reduction commission. he knows what our proposals are, he knows what we are throwing do. what we don't know, chris, is what is the president willing to do? >> well, let me ask you specifically about that. is it true, because it's been said but we've never seen a piece of paper; it true that the president offered to raise the eligibility age for medicare and to slow cost of living adjustments for social security what you were in your debt talks in august ofs2011. >>...
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Dec 5, 2012
12/12
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ways to reduce the deficit never are. but we must act together. when you look for savings, it is fair to local to the 1%. >> with multiple forecasts being downgraded, it has now become an issue about competence. they argue not only has the chancellor failed, but failed on his own terms. >> it has been completely derailed. the one test they set for themselves, balance the books and get the debt falling by 2015, that is now in tatters. >> after all, the facts and figures of the chancellor's statement -- after all of the facts and figures of the chancellor's statement, we are left with a feeling of malaise. >> you are watching bbc world news america. still to come, aero controversy at the hospital after the duchess of game birds -- the after information on the duchess of cambridge is released to two is jockeys. >> in bangkok, thousands of thais turned out to catch a glimpse of the mark on his 85th birthday in a rare public appearance prepare aero controvy at the hospital after the duchess of game birds -- the after information on the duchess of cambr
ways to reduce the deficit never are. but we must act together. when you look for savings, it is fair to local to the 1%. >> with multiple forecasts being downgraded, it has now become an issue about competence. they argue not only has the chancellor failed, but failed on his own terms. >> it has been completely derailed. the one test they set for themselves, balance the books and get the debt falling by 2015, that is now in tatters. >> after all, the facts and figures of the...
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Dec 1, 2012
12/12
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locale raising state and taxes to solve their deficit problems. something to keep in mind when we talk about these detention caps. you could be pushed up against a deduction if you live in new york. if you live in new york and have high state and local taxes, if congress moves forward with a deduction cap, you could go right up to that cap. host: 24% of those were claiming the earned income tax credits. 13% climb in the child tax credit. these credits, you can use them simultaneously. guest: some of these are refundable which means you get money back even if your tax bill is zero. whatever the refundable amount is, you get to take home. host: we will go to ray in atlanta, georgia. caller: how much will an individual or can an individual receive who has two children in a single-parent household? what is the maximum amount of money they receive back in the form of tax credits? once you look at that and if there at that dollar level, we're finding their children for free and reduced lunch and i assume adding some additional money for their housing. w
locale raising state and taxes to solve their deficit problems. something to keep in mind when we talk about these detention caps. you could be pushed up against a deduction if you live in new york. if you live in new york and have high state and local taxes, if congress moves forward with a deduction cap, you could go right up to that cap. host: 24% of those were claiming the earned income tax credits. 13% climb in the child tax credit. these credits, you can use them simultaneously. guest:...
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Dec 7, 2012
12/12
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CSPAN2
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so you see on the one level at the abstract level, debt, deficit, fiscal cliff. there's an immediate transition been to the to do list, which is what they would like to see effort. finally, and interestingly with all of this battering that people have taken during this last few years of difficult economy, we gave voters, we will go through this question in detail, but we gave voters a choice. short term, solutions to fix the problem, our long-term visionary policies that will put us on the right track? interestingly enough at this point people are thinking longer-term. part of that restored optimism is different for different groups, but generally speaking people are looking for longer horizons. just quickly, the mood of the country, you see the track, the red truck, this long track. easy it is still 50% believe the country is on the wrong track but you see substantial improvement sends where we were in the middle, the late fall of 2011. so that's when it really bottomed out. 70% wrong track, that was around the time of the debt ceiling debate. only 33% of democr
so you see on the one level at the abstract level, debt, deficit, fiscal cliff. there's an immediate transition been to the to do list, which is what they would like to see effort. finally, and interestingly with all of this battering that people have taken during this last few years of difficult economy, we gave voters, we will go through this question in detail, but we gave voters a choice. short term, solutions to fix the problem, our long-term visionary policies that will put us on the...
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Dec 6, 2012
12/12
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bush inherited a surplus and left with a massive deficit. didn't monitor the financial system and so on. the most important point is david's right about, which is there's no such thing as a presidential referendum election. i've covered ten of these and they've all been choices. why? because these two candidates live in everybody's living rooms. people make a judgment about their character -- >> reagan was partially positive, just anti -- >> oh that became a choice election after reagan appeared in that one debate against carter and people said, hey, he isn't so bad. i have a choice. >> one of the other players, besides the two candidates was bill clinton, the former president, don't think anybody made a better case of making the case for obama than bill clinton. at the convention a critical moment when he explained the arithmetic of what obama inherited. >> in tampa the republican argument against the president's re-election was pretty simple, pretty snappy. it went something like this. we left him a total mess. he hadn't cleaned it up fast
bush inherited a surplus and left with a massive deficit. didn't monitor the financial system and so on. the most important point is david's right about, which is there's no such thing as a presidential referendum election. i've covered ten of these and they've all been choices. why? because these two candidates live in everybody's living rooms. people make a judgment about their character -- >> reagan was partially positive, just anti -- >> oh that became a choice election after...
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Nov 29, 2012
11/12
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FOXNEWSW
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it would give us more time than next year to work together on a comprehensive plan to bring down the deficits. >> white house spokesman jay carney broke new ground declaring today the president does want spending cuts, listed in his budget plan to be included in the fiscal cliff talks. >> hold up the budget and say democrats on capitol hill vote for including the spending cuts in this deal to avoid the fiscal cliff. that is not what they are doing now. should they include those? >> yes. i think that, and i know that democrats accept that this has to be it, a balanced package, that includes revenues and cuts and spending cuts. >> months ago, the budget carney held up was voted down by the entire senate. 99-0. meaning no democratic support. earlier, dick durbin insisted spending cuts from entitlement reform will not be part of the talks while pelosi spell noncommittal whether the cuts will be in the deal. still, the administration is trying to breathe life to the talks, with vice president biden shopping at new costco in washington, picking up a big screen tv and apple pie and insisting he is o
it would give us more time than next year to work together on a comprehensive plan to bring down the deficits. >> white house spokesman jay carney broke new ground declaring today the president does want spending cuts, listed in his budget plan to be included in the fiscal cliff talks. >> hold up the budget and say democrats on capitol hill vote for including the spending cuts in this deal to avoid the fiscal cliff. that is not what they are doing now. should they include those?...
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supply deficit on that market and it sure helps to see the good jobs number. that was another supportive situation. when it comes to the copper market, we are again today. one of the strongest metals in the metal complex, the copper market. that is a good sign for economic growth down road. back to you, cheryl casone and dennis kneale. cheryl: thanks to both of you. breaking news into fox business. want to show you once again live pictures out of cairo, egypt. reuters is reporting protesters have breached a military barricade. that barricade is protecting the presidential palace. the protesters are upset about the president's decree giving him almost unquestioned power over his government but reuters reporting the barrier has been broken. they tried two days ago and were unsuccessful. those protesters have had success. we will keep you posted. fiscal cliff survival kit looking for a save haven, munis, maybe the way to go. we will do you y. dennis: employees of random house in for a lot of green, 50 shades of gray. how the world's currencies are faring against
supply deficit on that market and it sure helps to see the good jobs number. that was another supportive situation. when it comes to the copper market, we are again today. one of the strongest metals in the metal complex, the copper market. that is a good sign for economic growth down road. back to you, cheryl casone and dennis kneale. cheryl: thanks to both of you. breaking news into fox business. want to show you once again live pictures out of cairo, egypt. reuters is reporting protesters...
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Dec 5, 2012
12/12
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CNBC
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but anyway, the deficit is clearly not going to achieve getting rid of that in a five-year period. many estimates believe that in 2013-2014, the next fiscal year, it's going to be around 7%. that's better than the 11% inherited by this government, but will be a couple points worse than greece and spain. so that's a big negative for george osbourne. another one will be getting the percentage of debt compared with gdp in the country, getting that down within a five-year period, getting it syncing in the right direction. he thought it was going to peek around 75%, 75%. it looks like it could go up even further. so let's see what he says on that front today. in terms of options, he has very few options indeed because this is a government which as we know has set its fallout on plan a. and yet, are we seeing real austerity? i'm not entirely sure. government borrowing this fiscal year so far in the five months that we have figures for already is 26.7% higher than the same period a year ago. the idea originally this year was for flat spending and then getting it down there after. and he's
but anyway, the deficit is clearly not going to achieve getting rid of that in a five-year period. many estimates believe that in 2013-2014, the next fiscal year, it's going to be around 7%. that's better than the 11% inherited by this government, but will be a couple points worse than greece and spain. so that's a big negative for george osbourne. another one will be getting the percentage of debt compared with gdp in the country, getting that down within a five-year period, getting it syncing...
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Nov 30, 2012
11/12
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CNNW
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we have put down our down payment towards deficit reduction by saying that we believe that $1 trillion or so over the next decade of those tax cuts above and beyond a quarter of a million dollars can go to deficit reduction. our republican colleagues need to say specifically what they want to cut. when they say entitlements, entitlements is medicare and medicaid. what do you want to do about medicare and medicaid? put it on the table, let us know. let the american people know. then we can ultimately come to a conclusion and maybe have that celebration you're looking for, piers. >> senator menendez, good to talk to you. thank you very much. >> thank you. >>> when we come back, i talk to leaders on both sides of the palestinian debate. do they think today's vote threatens the peace process? aveeno has an oat formula, now proven to build a moisture reserve, so skin can replenish itself. that's healthy skin for life. only from aveeno. as part of a heart healthy diet. that's true. ...but you still have to go to the gym. ♪ the one and only, cheerios ...but you still have to go to the gym.
we have put down our down payment towards deficit reduction by saying that we believe that $1 trillion or so over the next decade of those tax cuts above and beyond a quarter of a million dollars can go to deficit reduction. our republican colleagues need to say specifically what they want to cut. when they say entitlements, entitlements is medicare and medicaid. what do you want to do about medicare and medicaid? put it on the table, let us know. let the american people know. then we can...
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Dec 7, 2012
12/12
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the deficit and debt will improve as 34%. but the one thing they are certain is that taxes will increase. and in the next four years how it affected you think the federal government will be on each of the following issues. we read a list of these issues, we rotated those. this is how it basically stacks up. ensuring long-term future of entire programs such as social security and medicare, 65%. 64% creating jobs, 64% improving public education, growing the economy, creating a business environment that allows for innovation. lowering the federal deficit actually false down to 40. not as much confidence there as a part on the other side. we been said the training faces a number of challenges including but not limited to large budget deficits, national debt, slower economic recovery, high unemployment, deep political divide on many issues. do you believe we will overcome these challenges in the foreseeable future as we've done in the past, or do you think these are unique set of challenges that are so serious that we might not be
the deficit and debt will improve as 34%. but the one thing they are certain is that taxes will increase. and in the next four years how it affected you think the federal government will be on each of the following issues. we read a list of these issues, we rotated those. this is how it basically stacks up. ensuring long-term future of entire programs such as social security and medicare, 65%. 64% creating jobs, 64% improving public education, growing the economy, creating a business...